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news.AstraZeneca has reported a net profit of $1.25 billion for the fourth quarter of 2008, a decrease of 1.4%, compared to $1.27 billion posted for the same period of 2007, reflecting higher restructuring costs and impairment charges.
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The company posted net sales of $8.19 billion in the fourth quarter of 2008, a marginal increase, compared to $8.17 billion posted in the corresponding period of 2007.
The company also plans to cut a further 7,600 jobs worldwide by 2013 as part of its additional restructuring of the sales and marketing organization and business infrastructure. All reductions in positions are subject to consultations with works councils, trade unions and other employee representatives and in accordance with local labor laws.
David Brennan, CEO of AstraZeneca, said: “AstraZeneca has delivered a robust performance in an increasingly challenging market environment. I am particularly pleased with our continued success in globalizing our business, as shown by our strong performance in emerging markets.
“We are also making good headway in further improving the efficiency of our organization. The expansion in the scope of our restructuring efforts is another important step towards sustaining our long-term competitiveness.”